Market Reports

Money market

Sentiment: Bullish

The government securities market was lacklustre in the absence of any fresh triggers.

Prices of medium to long tenor papers moved in 9-10 paise range.

The 9.81 per cent 2013 gilt closed at 5.74 per cent

Call rates remained at 4.80-5 per cent on moderate demand in a market flush with funds.

The corporate bonds market remained dull with market participants sitting on good positions to offload.

Forex market

Market Sentiment: Bullish on rupee

The spot rupee firmed up to close at Rs 46.58/59 after opening at Rs 46.60/61. Corporate paying lifted forward premiums. Six-month and one-year annualised premiums were at 2.18 per cent and 2.08 per cent, respectively.

 

Outlook

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The rupee is expected to remain firm as dollar inflows are likely to remain strong in the near term.